According to Paolo Ardoino, the MiCA regulation will make stablecoins much more risky to use.
“Tether has actively participated in the consultation on regulatory technical standards and is concerned that MiCA contains several problematic requirements. New regulations will make stablecoins vulnerable. Further discussion on standards is critical to ensure clarity in the market,” he said.
Ardoino emphasized that Tether is actively consulting with its exchange counterparties in the European Union regarding requirements relating to the listing of the USDT stablecoin and the interpretation of key regulatory provisions.
As a reminder, in accordance with the MiCA regulation, in order to be a regulated stablecoin provider in the EU, issuers must have an electronic money issue (EMI) license.
Tether previously said it would monitor transactions involving the USDT stablecoin on the secondary market. The solution for this will be provided by Chainalysis.
Source: Bits
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